Applied Digital Corp.
APLD- Exchange
- Nasdaq
- Industry
- Services-Computer Processing & Data Preparation
- SEC CIK
- 0001144879
In the last 90 days, Applied Digital Corp. insiders filed 2 open-market purchases and 1 sale; 569 institutions reported holding it in 13F filings for Q2 2026, worth $7.85B in total; superinvestors Tiger Global Management and Third Point hold it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 12:32 PM ET
Revenue flow, FY2026
Where the revenue went in FY2026, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2026: $184.3M (30.2% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Period end | May 31, 2026 | May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jul 27, 2026 | Jul 30, 2025 | Jul 9, 2024 | Jun 26, 2023 | Jul 18, 2022 |
| Revenue | $611.3M | $144.2M | $165.6M | $55.4M | $8.55M |
| Cost of revenue | $396.9M | $101.5M | $148.3M | $44.4M | $9.51M |
| Gross profit | – | – | – | $11.0M | -$957.0K |
| Selling, general and administrative | $332.1M | $83.1M | $98.5M | $55.1M | $7.55M |
| Operating income | -$236.5M | -$16.8M | -$99.0M | -$44.1M | -$20.9M |
| Interest expense | – | – | $26.8M | $1.98M | $112.0K |
| Income tax | $1.79M | $102.0K | $96.0K | -$523.0K | $540.0K |
| Net income | -$184.3M | -$231.1M | -$149.3M | -$44.6M | -$23.5M |
| EPS, basic | $-0.91 | $-1.16 | $-1.31 | $-0.49 | $-0.41 |
| EPS, diluted | $-0.91 | $-1.16 | $-1.31 | $-0.49 | $-0.41 |
| Weighted shares, basic | 275.2M | 201.2M | 114.1M | 94.0M | 57.1M |
| Weighted shares, diluted | 275.2M | 201.2M | 114.1M | 94.0M | 57.1M |
| Margins and growth | |||||
| Gross margin | – | – | – | 19.9% | -11.2% |
| Operating margin | -38.7% | -11.7% | -59.8% | -79.5% | -244.4% |
| Net margin | -30.2% | -160.2% | -90.2% | -80.6% | -275.1% |
| Revenue growth, year over year | +324.0% | −12.9% | +198.9% | +547.9% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2026! | FY2025! | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Period end | May 31, 2026 | May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jul 27, 2026 | Jul 30, 2025 | Jul 9, 2024 | Jun 26, 2023 | Jul 18, 2022 |
| Cash and equivalents | $1.59B | $41.6M | $3.34M | $29.0M | $38.8M |
| Accounts receivable | $56.3M | $3.04M | $3.85M | $82.0K | $227.0K |
| Total current assets | $4.66B | $430.6M | $30.3M | $45.8M | $49.3M |
| Property, plant and equipment | $4.24B | $1.28B | $340.4M | $195.6M | $64.3M |
| Goodwill | $54.5M | – | – | – | – |
| Total assets | $9.93B | $1.87B | $762.9M | $264.0M | $120.0M |
| Accounts payable | $395.5M | $247.5M | $116.1M | – | – |
| Total current liabilities | $1.16B | $558.1M | $385.5M | $115.5M | $29.0M |
| Long-term debt | – | – | – | – | $7.19M |
| Total liabilities | $6.19B | $1.24B | $638.0M | $194.3M | $40.7M |
| Shareholders' equity | $1.72B | $497.7M | $124.8M | $69.7M | $79.2M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Period end | May 31, 2026 | May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jul 27, 2026 | Jul 30, 2025 | Jul 9, 2024 | Jun 26, 2023 | Jul 18, 2022 |
| Operating cash flow | $89.7M | -$115.4M | $13.8M | $58.7M | -$872.0K |
| Capital expenditures | $2.87B | $681.6M | $141.8M | $128.7M | $58.3M |
| Free cash flow | -$2.78B | -$797.0M | -$128.0M | -$70.0M | -$59.1M |
| Depreciation and amortization | $67.4M | $17.3M | $79.4M | $7.27M | $1.01M |
| Stock-based compensation | $220.1M | $22.7M | $17.4M | $32.1M | $12.3M |
| Share buybacks | $0 | $31.3M | – | – | – |
| Investing cash flow | -$2.94B | -$667.7M | -$172.4M | -$132.1M | -$45.9M |
| Financing cash flow | $6.88B | $874.7M | $146.8M | $70.6M | $81.3M |
| Net change in cash | $4.03B | $91.6M | -$11.9M | -$2.73M | $34.5M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 36.0% | 15.7% | 10.5% | 57.9% | 144.3% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 6, 2026 | 302.4M | +8.1% | SEC |
| Jul 28, 2026 | 291.5M | +11.5% | SEC |
| Apr 7, 2026 | 285.8M | +27.2% | SEC |
| Jan 7, 2026 | 279.6M | +25.4% | SEC |
| Oct 8, 2025 | 279.7M | +29.9% | SEC |
| Jul 29, 2025 | 261.5M | +66.1% | SEC |
| Apr 11, 2025 | 224.7M | +83.1% | SEC |
| Jan 13, 2025 | 222.9M | +82.6% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- A column marked ! failed an accounting identity (gross profit = revenue − cost of revenue, or assets = liabilities + equity, within 1%). Its numbers are shown as filed.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.